The USDCAD pair shows more bearish bias to approach from 1.2500 barrier yesterday, noticing that stochastic loses its positive momentum clearly to approach from the overbought areas, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, which its next target located at 1.2413.
Therefore, we are waiting for more decline on the intraday and short term basis, reminding you that breaking the targeted level will push the price towards 1.2330 as a next main station, while the bearish trend will remain valid unless breaching 1.2739 level and holding above it.
Expected trading range for today is between 1.2440 support and 1.2640 resistance.
Expected trend for today: Bearish
Origin: Economies
